EFTA02497445.pdf

From: jeffrey E. <jeevacation@gmail.com> Sent: Saturday, July 11, 2015 9:49 AM To: Marc Leon Subject: Re: no question the house i= superb. . separate from mechanical upgrades and r=fresh. all new furniture , carpets. etc. and thorough =leaning. really amazing. if it were transpo=table , and able to be taken to a market. like your picasso or work of art m=taphor. it would be worth 100 million.. there are diamond min=s in congorwand... copper in zaire , calculated to be worth billions . however=C2* as there is also no way to transport those things =o market , they sell for little or no money. and there h=ve been no signifigant sales in the past 10 years. I ha=e now also looked into politcal risk insurance for the country and its availab=lity , and asked whether I could insure the house purchase. . ie a terro=ist event , again unlike the Picasso. , would immediatel= render the house worthless. The only buyer sQ=A0 are the middle easterners, and they won't buy this ever. 4>=A0 the main bedrooms are too small. dar olfa. much=better in this regard, the layout of guest , toilets kit=hen, make it difficult as yhou know to find the next buyer. =C2* When I returned to france I saw a huge chateau, =C2410 huge parks, fountains, . as you are aware ma=y for sale. and no purchases of note. That being said I wo=ld buy the house at a fair price. but I fear, mr kiss asking p=ice is nowhere near. I have asked distinterested thrid=party experts to give me an appraisal. so that i may check or correc= my instincts I will share their response to you when it arriv=s. thank you for your professiionalism4=A0 and sorry for the scrathces on your car On Sat, Jul 11, 2015 at 5:24 AM,=Marc Leon wrote: Dear Jeffrey,=u> =u> Very difficult exercise for a Saturday morning !</=pan> EFTA_R1_01622362 EFTA02497445 Marrakech is =till now a very tiny market for high end properties. It may change in some=years or more with the construction and then their sale of huge properties= As comps, we have only 3 properties in Marrakech: =/u> -=span style="font:7.0pt "Times New Roman""> =C24> Bab Atlas on 50 acres with 220 000 sq. feet built =p, the property bought 3 years ago by Sheikh Khalifa Al Thani. This proper=y was listed at 100 million C and the price of the transaction is =nknown. <=pan>- =C24t Bab Atlas on 24 acres with 100 000 sq. feet =uilt up, Dar Olfa, listed at 65 million C. The expenses for this p=operty should have been around 40 million + 5 million furniture.=/u> =C2410 Family Agnelli -=C2* Ali Bongo The second highe=t sale in Marrakech, done in the Palmeraie, was signed three months ago at=12 million C, for an 8 acres property with 15 000 sq. feet bu=lt up. A comfortable hotel would have been your comment. These =re fact but not the right way to valuate Bin Ennakhil. c=u> - 4>=A0 Bin Ennakhil is probably impossible the redo today - =C240 Bin =nnakhil offers less sq. feet than other properties, but how many cubic fee= with the 12 and 14 m high ceilings ? Millions hours work for hundreds of =rtists. 4fr=A0 Bin Ennakhil can only become the property of an art =over =C24) You could valuate some Picasso by sq. inch, but how wou=d you estimate the loconde ? Google =aps location: 31=C2,40158.7"N 7°57'54.5"W - 31.682965, -7.965142 =/u> More details about the costs will follow. 2 EFTA_R1_01622363 EFTA02497446 Regards Marc LEON Managing Directorow KENSINGTON Finest Pro=erties Marrakech Sarlau License partner of KENSINGTON Finest Properti=s International Exclusive affiliate of CHRISTIE'S International Re=l Estate Private Office MarrakechAvenue Yacoub El Mansour Arset Bata 3, App. 13, 52 =C34kt. Gueliz - 40000 - Marrakech (Morocco) Tel.: Fax: Cell: =span style="font-size:10.0ptfont-family:"Verdana",sans-serif;=olor:gray" lang="EN-US">Cell: +212 600 070 701=/p> www.kensington-morocco.com </=> De : =effrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.com> Envoye : samedi 11 juill=t 2015 04:27 A : Kensington Objet : =/u> <= class="MsoNormal">I understand the property is unique I have look=d at comp sales. politial risk insurance. financial risk of country.=C240 /. Not sure what i am missing. but i can'=t get close to his SO million number. can you send me comps in=the palamerai, both for what is on the market and what has sold.Q=A0 <=r>•- =C2Q please note The information contained in this communication is 3 EFTA_R1_01622364 EFTA02497447 confidential, =ay be attorney-client privileged, may constitute inside information, an= is intended only for the use of the addressee. It is the property ofJEE Unauthorized use, disclosure or copying of this communication o= any part thereof is strictly prohibited and may be unlawful. If you ha=e received this communication in error, please notify us immediately by=br>return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communicat=on and all copies thereof, including all attachments. copyright -all ri=hts reserved 4=lockquote> please no=e The information contained in this communication is confidenti=l, may be attorney-client privileged, may constitute inside information= and is intended only for the use of the addressee. It is the property =f JEE Unauthorized use, disclosure or copying of this communicati=n or any part thereof is strictly prohibited and may be unlawful. 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